CATL’s IPO pops in Hong Kong
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Contemporary Amperex Technology Co. Ltd., or CATL, controls more than a third of the global market for EV batteries and is seeking to expand overseas even as it faces political obstacles in the United States.
CATL has started battery production at another factory in China. The plant is set to become the Group's largest production facility in the country. In the
Chinese companies are discovering some downsides to the build-abroad strategy, including more labor-management tensions than are typical in China.
CATL is foraying into global markets amid growing trade tensions between the U.S. and China, which have sent markets careening over the past several weeks.
China has become a global leader in electric cars and car tech, with one of the highest personal EV adoption rates in the world. But it's also ahead of everyone else when it comes to electric heavy-duty truck sales.
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Shares in China’s Contemporary Amperex Technology (CATL), the world’s largest electric vehicle battery maker, have surged as much as 18% on its first day of trading in Hong Kong, shrugging off geopolitical uncertainties.
With its subsidiary CharGo, Chinese battery maker CATL is accelerating plans to deploy mobile EV charging robots globally. The goal is to secure a 20% share
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